Downing Street Says » Sovereign Wealth Funds

» Friday, January 25, 2008

Sovereign Wealth Funds

Asked if we were taking a different position from the US in relation to sovereign wealth funds, the PMS replied that he was not sure he would characterise the US position in quite the same way as the journalist. As the Prime Minister had said in China, we welcomed investment from sovereign wealth funds in London, but of course they had to play by the rules and operate on the same basis as others and adhere to our regulations regarding transparency. Premier Wen, whilst meeting with the Prime Minister in Beijing, gave those assurances both publicly and privately and it was on that basis that we would welcome investment from sovereign wealth funds from China and elsewhere in London.

Asked if there should be specific regulations for sovereign wealth funds, the PMS replied that he was not sure that that was what the US were saying; investment in the UK was regulated by the Financial Services Authority (FSA) and that applied to investors wherever they came from. Therefore the question would be, did sovereign wealth funds operate in a way that was consistent with the regulatory requirements of the UK and, as long as they did, we would welcome their investment.

No Comments »

No comments yet.

RSS feed for comments on this post.

Post a public comment

Name (required)
E-mail (required)
(You must give an email address, but it will not be displayed to the public.)
Website
(You may give your website, and it will be displayed to the public.)

Comments:

This is not a way of contacting the Prime Minister. If you would like to contact the Prime Minister, go to the 10 Downing Street official site.

Privacy note: Shortly after posting, your name and comment will be displayed on the site. This means that people searching for your name on the Internet will be able to find and read your comment.

Original PMOS briefings are © Crown Copyright. Crown Copyright material is reproduced with the permission of the Controller of HMSO and the Queen's Printer for Scotland. Click-use licence number C02W0004089. Material is reproduced from the original 10 Downing Street source, but may not be the most up-to-date version of the briefings, which might be revised at the original source. Users should check with the original source in case of revisions. Comments are © Copyright contributors. Everything else is © Copyright Downing Street Says.